Heterodox economics - Marginal revolutionaries -The crisis and the blogosphere have opened mainstream economics up to new attack
Dec 31st 2011 | AUBURN ALABAMA, CHARLESTON SOUTH CAROLINA AND ST CROIX |
"... Decades ago macroeconomics resembled an “intellectual witch’s brew”, according to Olivier Blanchard, chief economist of the International Monetary Fund. It contained “many ingredients, some of them exotic—many insights, but also a great deal of confusion”. Things then became more rigorous and refined: disagreements remained, but within set limits. Now, on the blogs, the economic conversation boils and bubbles again. That ferment is surely spreading into the academy—and in time some new quintessence will be brought forth, perhaps from materials now considered base."
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